India covid-19 outbreak economy prevention India

RBI steps will prevent more NPAs, boost cheaper credit

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Covid-19 has altered life as we know it, heralding unprecedented times in every way. While the lockdown has led to economic activities across sectors coming to a standstill, earlier this week the International Monetary Fund slashed the India's growth rate to 1.9% from its previous forecast of 5.8%.

Even with this, India will remain ahead in growth rate compared with global peers. In its second press conference since the nationwide lockdown because of the covid-19 outbreak, the Reserve Bank of India on Friday announced additional measures to support the economy and revive growth momentum.

These measures announced by the RBI were primarily aimed boosting liquidity, expanding credit flow and easing the stress in the banking and financial

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